Praj Industries' shares rose ✅ 1.4% to Rs 811.4 after Kotak Institutional Equities initiated coverage with an "add" rating and a target price of Rs 880, implying an 8.5% upside, citing the company's strong positioning in the ethanol sector and growth prospects in bioenergy and international markets.
Open FlipThe Indian rupee opened at a new low on January 9 due to strong dollar demand but pared some of the losses on likely intervention by the Reserve Bank of India (RBI), currency experts said. At 11.15 am, the local currency was trading at 85.89 against the dollar after opening at 85.93, a new low. The rupee closed at 85.86 in the previous session.
Open FlipQuadrant Future Tek's IPO has received an overwhelming response from investors, with retail investors subscribing 164.77 times and non-institutional investors 119.60 times, leading to an overall subscription of 62.85 times on the final day. Shares of Quadrant Future Tek are commanding a premium of Rs210 in the grey market.
Open FlipNomura upgrades Zydus Lifesciences' shares to "buy" from "hold" and raises its price target to ₹1,140, citing higher earnings estimates from the Sitagliptin 505b(2) drug. The brokerage sees an opportunity size of $100-150 million annually from the drug, despite competition in the US market. Nomura also notes benefits from a stronger US Dollar.
Open FlipGlobal brokerage firm Nomura has downgraded its ratings on ACC, Shree Cement, and Nuvoco in its latest report stating that the Indian cement industry is experiencing significant headwinds over weak pricing power and sluggish demand growth. Nomura’s research note suggests that pan-India prices have remained flat in January 2025, with marginal improvements by Rs 60-70 in 3Q.
Open FlipIndian markets witnessed a massive sell-off on Monday, ₹10 trillion is the amount of wealth that was lost on Monday this week as fear of the outbreak of a new virus i.e. Human Metapneumovirus (HMPV), gripped the market. There was a joke going rounds that while the first few patients were on their way to full recovery, the virus had sent the stock market to ICU.
Open FlipShares of Bajaj Auto were buzzing in trade, rising 2 percent on January 9 after brokerage firm CLSA upgraded it to an 'outperform' call from the previous 'underperform' rating. The upgrade stemmed from the recent correction in the stock combined with growth prospects of Bajaj Auto's electric two-wheeler business. CLSA has set a price target of Rs 9,493 for the stock, implying a 10% upside.
Open FlipSRF Ltd and Navin Fluorine's share prices surged up to ✅13% on Thursday, driven by rising global refrigerant merchandise prices, expected to boost earnings for the specialty chemical manufacturers, following concerns of supply shortages for essential gases ✅ R32 and R125 from a major US distributor.
Open FlipKalyan Jewellers India Ltd. share prices continued to witness a decline, fifth day in a row. Currently, the trading price stands at Rs 686.35, a decline of 3.24% early on the day, January 9. Earlier, the company had released its Q3 FY25 updates on Tuesday, highlighting likeliness of its net revenue to grow by 39% with India business surge standing at 41 percent on festive and wedding demand.
Open FlipHere is the summary, With a monthly income of Rs 20,000, getting a personal loan is possible, despite banks and NBFCs preferring higher salary brackets. Eligibility criteria include a credit score above 700, minimum work experience, and Indian nationality, with interest rates starting at 12% per annum.
Open FlipBritain’s latest bond turmoil has drawn comparisons with the Liz Truss mini-budget debacle of 2022 but a parallel with the debt crisis of the 1970s might be more apt. That’s the analysis of former Bank of England rate-setter Martin Weale, who said the Labour government may have to resort to austerity to reassure markets that it will address the UK’s escalating debt burden.
Open FlipShares of chemical players SRF Ltd and Navin Fluorine International surged as much as 14% on Thursday after a report from brokerage firm Equirus Capital highlighted a sharp rise in global refrigerant gas prices. The rally follows warnings from a leading U.S. distributor with significant quotas, which cited severe supply constraints for key refrigerant gases, R32 and R125.
Open FlipA look at the day ahead in European and global markets from Kevin Buckland The British bond market has become the focus of global investor attention, for some unenviable reasons. A 20-basis point spike in benchmark gilts this week to the highest since 2008 is being linked by analysts to a welling crisis of confidence in Britain’s fiscal outlook.
Open FlipShares of ACME Solar Holdings Ltd surged nearly 5 percent after the company announced the successful commissioning of an additional 90 MW of solar power capacity in Rajasthan. This development elevates ACME’s total operational renewable generation capacity to 2,453 MW, marking a significant milestone in its expansion plans.
Open FlipAshish Kacholia portfolio stocks: Ashish Kacholia’s investment firm Bengal Finance and Investment picked a stake in small-cap company Yuken India during the third quarter of financial year 2024-25 (Q3 FY25), shows the latest shareholding pattern released by the company. Following this update, the company’s stock spiked 14% on the BSE on Thursday, January 9.
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